UPDATE 1-China?s State Grid to pay $1.8 bln for big stake in Brazil?s CPFL

[ahlam1399]

UPDATE 1-China?s State Grid to pay $1.8 bln for big stake in Brazil?s CPFL

UPDATE 1-China?s State Grid to pay .8 bln for big stake in Brazil?s CPFL

SAO PAULO, July 1 (Reuters) – CPFL Energia SA,
Brazil’s largest power distributor, said on Friday that the
world’s largest utility, China’s State Grid International
Development Ltd, will buy a controlling stake in the company for
5.85 billion reais ($1.8 billion).

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